Updated : Dec 05, 2024 Bitcoin has achieved a historic milestone by surpassing $100,000 for the first time, driven by market optimism regarding President-elect Donald Trump's pro-cryptocurrency agenda. Bitcoin peaked at $104,000 earlier in the day. This milestone signifies Bitcoin's growing acceptance in the financial mainstream, over 16 years after its inception. In 2023 alone, Bitcoin's value has more than doubled, with a 45% surge in the month following Trump's election. Crypto investors are hopeful that Trump's policies will reduce regulatory barriers and boost institutional adoption. During his campaign, Trump pledged to make the US a global hub for cryptocurrencies, promising to build a national Bitcoin reserve and establish policies to promote blockchain innovation. His victory has also brought pro-crypto lawmakers into Congress, supporting this vision. Trump plans to nominate Paul Atkins, a former SEC commissioner and crypto advocate, as the next SEC Chair. Atkins' previous involvement with the Token Alliance and the Chamber of Digital Commerce indicates a shift towards favourable crypto regulations. Outgoing SEC Chair Gary Gensler, known for his scepticism towards digital assets, will step down in January.
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